Banknifty has had a solid pullback, but although it has a 50% retracement, this indicates a further range market. So, even if the gap-up doesn't sustain, we can expect a range market. On the other hand, if the gap-up sustains, then the rally will continue with minor consolidation.
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
"Banknifty consolidated in the last session. Structurally, if the market opens with a gap-up, then the consolidation will continue further. We could wait for the rally only if it breaks the Fibonacci level 38%. Alternatively, if the gap-up doesn't sustain and breaks yesterday's low, then we can expect minor correction initially. Correction continuation will...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
The BankNifty's gap-up opening above 46200 suggests a bullish outlook for the day. Traders may anticipate upward momentum, particularly considering the channel pattern observed in higher time frames.Conversely, a gap-down opening below 46000 could lead to a sideways to bearish trend. However, the prevailing channel pattern increases the likelihood of a bullish...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Banknifty has a diagonal structure. So, if the market breaks the previous low, then the diagonal will continue further, and we can expect a minimum of 46197 to 45948. If it finds support there, then we can expect a minimum of 23 to 38% pullback wave. Alternatively, if the gap-down doesn't sustain and breaks the diagonal pattern, then we can expect a range market...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of Important / Support Sell - with rejection of Important / Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Support Sell - with rejection of PDL / Resistance See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Strong-support Sell - with rejection of PDL / Resistance See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ...
Check out bank nifty analysis for 7th March'24 & let me know if u need more analysis on stocks also comment you fav stocks for analysis Thanks!!!
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
If you observe the chart above, it clearly indicates that it's forming higher highs and higher lows. A few days ago, on January 17th, 2024, there was a significant gap down below the resistance level of 47520. Many times it attempted to break this resistance level, but today it finally broke through with a strong bullish candle. Therefore, we can confidently say...
The Banknifty structure is a little different; as per the wave structure, there is a pullback wave bending (minor sub-wave 5th). So, if the market breaks yesterday's high, then we can expect a range between 47821 to 47957. Since this is the 5th wave, once it rejects there, we can anticipate a correctional wave that may take a 23 to 38% Fibonacci correction to the...